Friday, June 2, 2017

Elliott Wave Stock Market Update - June 1

The market was able to break out of range convincingly today to make a substantially higher high. We could see the rally continue but the count is now complete and ready for a real correction. I am assuming what we saw today was the W3 of the 5th leg, so I might end up getting some shorts by the close or early next week.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

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